Sunday, September 25, 2011

25 Sept 2011

 Oversold in the short term.
Oversold in the medium term.

It seems that a Greek default is finally being considered as possible.  Amazing that it has taken this long.  I went and looked at what happened when Bear Stearns went under.  About three days after the market found a bottom (using breadth indicators) and rallied from Mar to late May.  I'm not sure if that is where we are or if we are at a Lehman point.  I'm thinking the former, but that is just a guess.  It seems this has become unraveled too fast to not have some settling before shit hits the fan again.

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